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2. Long-term growth seen for compaction equipment in India

Sales of compaction equipment in India are expected to exceed 5,000 units per year in 2028 for only the fourth time in the industry’s history, thanks to continued expansion of the country’s highway network. Volumes will remain good in the build-up to that peak, but there will be challenges over the next 12 months.

Off-Highway Research’s new report, The Compaction Equipment Industry in India said, “Demand for compaction equipment is expected to witness a decline in 2024 as the activity level has been adversely impacted due to recently held general elections and formation of the new government. Continuity is expected in the focus on infrastructure and government policies, which should spur construction activities.

“Implementation of CEV-V emission norms for wheeled equipment along with new safety norms is scheduled from January 2025, which will result in a price increase of 5-7 per cent. Accordingly, manufacturers are expected to increase production and inventory towards end 2024 to tide over the adverse effect of price increase in 2025 beginning. In view of the above, demand is also expected to decline in 2025, and a normal growth trend should resume thereafter.”

Off-Highway Research’s 92 page report on the compaction equipment industry in India is now available to subscribers to Off-Highway Research’s Indian Expert Portfolio. It is also available to buy on our online store. Click here for details.

It is believed to be the most detailed and in-depth report ever published on the subject, with analysis covering market size, market shares, production, foreign trade, market structure, distribution networks, equipment population, machines available and a five-year forecast.

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